Results of Retail Entitlement Offer

13th Dec 11

Release Date: 13/12/2011 12:00am

Pharmaxis today announces that the Retail Entitlement offer closed at 5.00pm (Sydney time) on 8 December 2011 and will raise approximately $31 million. Eligible retail shareholders subscribed for 13,815,725 new shares (approximately $14.5 million) under the Retail Entitlement Offer representing a subscription rate of approximately 47%. All eligible retail shareholders who subscribed for new shares in excess of their pro-rata entitlement will be allocated the full amount of their application.  Settlement of these new shares under the Retail Entitlement Offer will occur on the second settlement date of 15 December 2011.

The balance of 15,490,841 new shares (approximately $16.3 million) comprising of shares not subscribed for by eligible retail shareholders and the entitlements of ineligible retail shareholders will be issued to the sub-underwriters of the Retail Entitlement Offer, which have sub-underwriting agreements in place with the Underwriters and include a number of existing shareholders of Pharmaxis.


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